World Bank has sounded the warning bells for Indian banks and financial institutions on their high non-performing assets and the risks of suffering losses if interest rate starts rising.
These courts will be set up in Mumbai, Delhi, Chennai, Kolkata, and Hyderabad
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
Directly accusing Modi of corruption in the deal for the French fighter planes, he said the prime minister had favoured his businessman "friend" Anil Ambani by getting him the "contract".
The government is examining a proposal for the merger of IDBI with the IDBI Bank, Union Minister of State for Finance Anandrao Adsul said in Jaipur on Friday.
Banking on better credit growth prospects alone may not be the right strategy as far as investing in bank stocks are concerned.
Professional services firm PricewaterhouseCoopers is close to arranging the first acquisition of a non-performing asset in India.\n\n\n\n
The RBI has issued new guidelines doubling the ceiling to 10 crore for settling non-performing assets of public sector banks.
They have been on an unbroken selling streak since the Union Budget, spooked by increase in income-tax surcharge, taxes on buybacks, and lack of stimulus to prop up the economy.
Securitisation Act tilted against borrowers: FICCI
The IMF expressed its opposition to any move that compromises the independence of central banks anywhere in the world.
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
The operating environment is unpredictable, but if the bank can't give a clear picture of what's in store, calling the bottoming out of its asset quality stress is nearly impossible.
The government is not in favour of bringing in amendments to prevent misuse of Securitisation law, which facilitates banks and financial institutions to speed up recovery of non-performing assets, estimated at about Rs 1,00,000 crore.
The country's largest lender SBI on Thursday reported a 4.20 per cent decline in consolidated December quarter net at Rs 6,257.55 crore, largely because of a higher base in the year-ago period where it had benefitted from a Rs 4,500 crore one-off income. On a standalone basis, the city-headquartered lender's net profit came in at Rs 5,196.22 crore as against Rs 5,583.36 crore in the year-ago period and Rs 4,574.16 crore in the preceding September quarter. SBI chairman Dinesh Kumar Khara told reporters that the year-ago period had seen the resolution of the Essar Steel loans, resulting in an over Rs 4,000 crore interest income and Rs 500 crore other income benefit.
The Reserve Bank of India is likely to introduce benchmark prime lending rate based on various parameters like actual cost of funds, operating expenses and non-performing assets by October this year.\n
If companies get into trouble, the loan becomes a non-performing asset and "we very much want these assets to be back on track," Raghuram Rajan said.
The economic slowdown took a heavy toll on some of the financial institutions like IDBI, IFCI and IIBI, with the cumulative loan disbursement falling by 22.4 per cent at Rs 17,878 crore in the last fiscal.
The move is likely to help 4.59 lakh housing units across the country.
Asserting that the non-performing assets in the banks have been contained, bankers on Tuesday said that they were monitoring it on a constant basis.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
PSBs' gross NPA ratio may decline to 12 per cent by March 2019 in the baseline scenario, whereas private banks' gross NPA ratio may decline from 3.7 per cent to 3.2 per cent in March 2019.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
Following the footsteps of State Bank of India and ICICI Bank, Canara Bank has classified its loan to Dabhol Power Company as a non-performing asset.
Total income of the bank improved to Rs 13,852.1 crore (Rs 138.52 billion).
The top court granted two weeks to the Centre and RBI to file the affidavit and place before it the decisions taken in this regard.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
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